Priority Announces Innovations to its Passport Product

Passport seamlessly integrates payments, treasury and banking services on a scalable, native platform. It helps businesses of all sizes accelerate cash flow, streamline transaction reconciliation, and optimize working capital.

New enhancements to Passport include:

• The ability for customers to passively earn money on idle funds – Cash Builder is an FDIC-insured savings account with competitive interest rates. Passport Cash Builder also integrates our advanced embedded yield API, which allows customers to invest in a variety of professionally managed options including money market, Treasury-backed securities, and short term investments. For those seeking even higher yields with high liquidity, Cash Builder+ accounts provide excellent rates for qualified deposits.
• Consumer Accounts – Individuals can now get a Passport account that allows them to receive funds (including direct deposits), pay bills, access ATMs and integrate with Apple, Google and Samsung wallets. These accounts are available through employers and other organizations that have a relationship with Priority. The accounts allow money to be moved quickly and seamlessly between the organization and its individual constituents.

“Nothing rivals Passport’s simple integration, ease of use and functionality,” said Priority CEO Tom Priore. “With every enhancement, we’re perfecting the value of this powerful tool for businesses of all sizes.”

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